Children Account

It is an account opened for an under-aged individual (minor) by the parents/guardians of the minor, or by a court order. It is intended to encourage parents/guardians to save money in the name of their children for future use.

Requirement

• The minimum initial deposit shall be  Birr 25.00
• Valid ID card, a church certificate, a municipality certificate, or a certificate from a hospital, etc. that gives the date of birth of the minor; and
• Address of the applicant/guardian.
• Two passport size photographs of the guardian and minor

Product Features

• The account is operated by passbook
• The Bank pays attractive interest
• Withdrawal of fund with restriction.
• Change to normal saving when the age of the minor reaches 18 years
• The account might be changed to ordinary saving at the age of 14 years